Amazon.com initiated with "neutral"

14.01.09 - Janney Montgomery Scott

NEW YORK, January 14 (newratings.com) - Analyst Shawn C Milne of Janney Montgomery Scott initiates coverage of Amazon.com Inc (AMZN) with a "neutral" rating. The fair value is set to $48.

In a research note published this morning, the analyst mentions that the company is likely to continue to post market share gains going forward, aided by the expansion of its third-party business. Amazon.com?s margins are expected to be negatively impacted by significant deceleration in promotional activity and online spending in 4Q, which is likely to continue in 1Q, the analyst adds.